Toyota Company Was Established In The Year 1937. Its Main

Toyota initially establish in Japan by Sakichi Toyoda. However in 1933 Toyoda company enhance into many field and one of them is automobile industry where it was named as Toyota (Toyotauk, 2013). Today, Toyota able to cross many boundaries and develop their business from plain filed to massive production firms. Toyota currently the global number 1 position after beating General Motors and Volkswagen Group on vehicle sales for 2013 (Gibbs, 2014). According to Gibbs (2014) Japanese firm recorded $9.98 million of sales in 2013. Whereas they have estimated to hit the $10 million mark in 2014. The company operates with approximately 339000 employees in 2014 (The Statistics Portal, 2014). Toyota Motors well known for their innovative

“Respect the culture and customs of every nation and contribute to economic and social development through corporate activities in their respective communities”

For more than 50 years, Toyota Motor Corporation has been one of the world’s leading manufacturers of motor vehicles in the United States. It was born a Japanese company in 1935 and came to America in 1957. Now headquartered in Toyota City, Japan, it employs more than 300 thousand employees globally (Toyota Motor Corporation Company Profile, 2012). In addition Toyota is a global marketing organization. It strategically operates primarily through Japan, Asia, Europe, and North America; but its vehicles are sold in more than 170 countries and regions across the globe (Toyota Motor Corporation Company Profile, 2012). The Toyota brand is traditionally defined by brand attributes such as global leadership, innovation,

Respect stakeholders beyond shareholders-contribute to economic, social, and environmental development-build trust by going beyond the letter of the law-respect rules and conventions-support responsible globalization-respect the environment-and-avoid illicit activities (Caux Round Table for Moral Capitalism, 2018).

Toyota is a leading company, and for over 70 years. It has been expanding business all over the world and

Competition is good for producers but better for consumers, more competition in the market means more: ideas, channels of distribution, market stability and competitive (lower) prices for consumers. Ultimately, healthy competition forces producers to offer better products and services at lower prices. Automobiles provide people with “…aspirational value in addition to a basic mode of transportation…” (Reinhardt, Yao & Egawa, 2006) consumers make purchasing “decision based on the styling, color, and concept of the cars in addition to functions and pricing” (Reinhardt, Yao & Egawa, 2006). So far, TMC has been trying to catch up with Honda and Nissan in the ‘innovative’ department. Let’s not forget the criticism the company previously faced for offering its customers “…proliferation of look-alike cars…and following rather than setting a trend” (Reinhardt, Yao & Egawa, 2006).Since, Mr.

Toyota Motor Corporation is one of the worlds largest vehicle manufactures. It conducts business worldwide and their vehicles are sold in more than 170 countries and regions. Kiichiro Toyoda established Toyota in 1937. Toyota also has other brands including Lexus and Scion. Last year Toyota ranked number 9 on the Global 500 list. Toyota has also been on the Global 500 list for 21 years. Since 2008, when Toyota surpassed American General Motors as the world’s largest automaker, it has remained at the top of the list. In 2014, Toyota had $18.1 billion dollars in profit and a whopping $227 billion dollars in revenue. Toyota has always been a company with a great image. They spend nearly $1 million dollars every hour on research and development. Although the company was founded in Japan, it has created over 365,000 jobs in the U.S. Toyota also ranks as a top 10 company for LGBT employees and top 50 for diversity. On top of supporting diversity and the LGBT community, they have donated $700 million dollars to non-profit organizations.

For instance, Google faced many challenges when they entered in China they had a strong control over the functioning of the corporation. They can surpass any government policy where they find it necessary. However, the legal system of the body should have strong rules and laws that foreign companies cannot attempt to bypass and there should be strict actions and penalty against those companies who attempt for illegal or false practice within the corporate world. The corporation should set examples that fulfils ethical, environmental and community friendly practices. They should encourage other companies to help and encourage and to provide healthy environment with the different group of society. Through these rules and laws, implementing will help community as well as the corporation to make a better image within the people of the society.

Toyota is one of today's top quality car manufacturers in the world. What first started out as a spin-off of Toyoda Automatic Loom Works, one of the world’s leading manufacturers of weaving machinery in the 1930s, Toyota Motor Corporation Ltd. now produces more than 5.5 million vehicles per year or the equivalent of one vehicle to every six seconds - making it Japan’s largest car builder and the world's third largest manufacturer of automobiles in unit sales and in net sales.

Toyota is the one of the first companies to manufacture more than 10 million vehicles per year. Three years earlier, still being a part of Toyota Industries, in 1934, it created its first product, the Type A engine and in 1936, its first passenger car, the Toyota AA. Toyota produces vehicles under 5 brands which include the following:

Their head office is located in Toyota city, Japan and the company also have international regional headquarters located in Belgium, Singapore, Thailand, and China, were they each perform different activities (Worldwide operations , 2016). Toyota Global operates as a transnational organization (Environmental & social report 2003). Transnational operation is when an organization has multinational operations, which is evident with this company as shown.

Toyota Motor Corporation pursues design that resonates with customer sensitivities worldwide. It has therefore incorporated designers globally with diverse cultural backgrounds from bases in Japan, North America and Europe. This gives Toyota a truly global competitive edge over its American Auto rivals such as General Motors, Chrysler, Ford and Tesla.

Toyota also has a strong portfolio of prestigious brands such as Prius, Camry, Toyota, Lexus, Corolla, Land cruiser, Hilux and other brands. In fact, the annual Brands Top 100 ranked Toyota a leading brand. This strong branding and market position allows Toyota to market its product with premium prices and high profit margins.

main strategy for the North American market is to aim for higher sales, while raising the proportion of locally produced automobiles. Toyota Motor Corp have reached a stage where investments made over the last several years to expand production capacity are beginning to show returns and improved profitability can be expected. Toyota’s goal is to bolster local production through additional investment, and contribute to the regional economy by expanding its operations. At present, our production capacity in North America is approximately 1.25 million units (including our joint venture with GM). However, Toyota Motor Corp plan to boost this to 1.45 million units during 2003.

Toyota Motor Corporation is one of the leading automakers with a huge market in the US. Toyota Company is located in Japan, and its headquarters in the U.S. are based in Torrance, California. It has more than 300,000 employees in 50 manufacturing facilities in all around the world. Toyota’s vehicles are sold in more than 170 countries. It has three major brands; Toyota, Lexus, and Scion. In 2013, Toyota’s revenue was $214.6 billion globally (Ruiz, 2014).